Asian markets were mixed on Wednesday as investors looked to tariff talks between the U.S. and China later this week
Developments in U.S. politics overnight, which saw President Donald Trump's former personal lawyer Michael Cohen plead guilty in federal court, also took center stage.
In Japan, the Nikkei 225 gained 142.82 points, or 0.6%, to 22,362.55. The Japanese yen traded at 110.44 against the U.S. dollar.
In Hong Kong, the Hang Seng hiked 174.79 points, or 0.6%, to 27,927.58
Australian markets subsided, as sectors such as utilities and the heavily-weighted financials sub-index traded lower.
The telecommunications sector was one of the few which closed in positive territory Down Under, up by more than 7.5% on the back of news that TPG Telecom was looking at a potential merger with its rival Vodafone Hutchison Australia. Hutchison Telecoms, which owns a 50% stake in Vodafone Hutchison Australia, confirmed the news in an announcement that "exploratory discussions" were happening between the two.
Following the news, shares of TPG surged and closed up by 21.6%
CHINA
In Shanghai, the CSI 300 deducted 18.7 points, or 0.6%, to 3,307.95
NASDAQ-listed Chinese biotech firm Zai Lab is planning a second listing in Hong Kong. If true, it will be the second U.S.-listed biopharmaceutical company in China to return to the Hong Kong markets following new listing rules.
U.S. and Chinese officials are set to begin a new round of talks in Washington today to find a resolution for the ongoing trade dispute between the two largest economies of the world. President Donald Trump is reportedly preparing to add more tariffs this week.
In other markets
Markets in Singapore were closed for holiday
In Korea, the Kospi index inched up 3.27 points, or 0.1%, to 2,273.33
In Taiwan, the Taiex index acquired 12 points, or 0.1%, to 10,804.20
In New Zealand, the NZX 50 gained 46.83 points, or 0.5%, to 9,162.61
In Australia, the ASX 200 lost 18.4 points, or 0.3%, to 6,265.98
